There are details in the contract.
2.50W How to calculate the interest, monthly payment and repayment of mortgage loan?
The repayment method is as follows:
I. Average capital
The so-called average capital means that the monthly repayment principal of buyers remains unchanged, but the monthly repayment interest will not decrease with the surplus. The calculation formula of average capital is as follows:
Monthly principal payable = total loan principal
Monthly interest payable = residual principal × monthly interest rate = (loan principal-accumulated principal repayment) × monthly interest rate
Monthly repayment amount = (loan principal ÷ repayment months) (loan principal-paid
2. Equal principal and interest
The so-called matching principal and interest means that the monthly repayment amount of the buyers is the same, but the proportion of principal and interest in the monthly repayment amount is different. In the prepayment period, the principal accounts for a small proportion, while the interest accounts for a large proportion. With the monthly repayment, the proportion of principal is getting smaller and smaller. Calculation formula of equal principal and interest:
Monthly interest payment = residual principal × monthly loan interest rate;
Monthly repayment of principal = monthly repayment of principal and interest-monthly payment of interest.
Monthly payment = residual principal × principal and interest-monthly payment
(This is the formula. Do it yourself.
Matching principal and interest repayment method has a balanced repayment pressure, but it needs to pay more interest, which is suitable for a certain decline and the burden of life is increasing day by day, and there is no plan to repay in advance. Considering the economic pressure and many plans to repay in advance, equal principal and interest is a good choice.
How much interest should I pay for a mortgage loan of 3.50W for five years?
The annual interest of the loan is 5.76, which is business according to the purpose you provide. The average bank rises by 30% on the basis of quasi-interest rate.
500,000× 5.76 %× (130% )× 5 years =180,072.
In view of your situation, I suggest you go to the local commercial bank or Agricultural Bank to ask, these two banks are still relatively loose in the approval of small commercial loans.